The analysts forecast the Global BI and Analytics Platform market to
grow at a CAGR of 8.93 percent over the period 2013-2018. One of the key
factors contributing to this market growth is the increasing volume of
information generated from enterprise applications. The Global BI and
Analytics Platform market has also been witnessing the increasing
adoption of SaaS-based BI and analytics platform. However, the
difficulty in validating the accuracy of the underlying data could pose
a challenge to the growth of this market.

Commenting on the report, an analyst from the team said: The adoption of
SaaS-based BI and analytics platform applications is expected to grow
rapidly in the near future. The traditional on-premise deployment of BI
tools is slowly being taken over by single and multi-tenant hosted SaaS.
These solutions are increasingly becoming popular options for deploying
enterprise software. In addition to the increased adoption of SaaS-based
solutions by SMEs, they are gradually being used by large enterprises.
The software available over the internet in a subscription model
provides increased flexibility to organizations using SaaS-based
software. Furthermore, many vendors in the market have begun to offer
their BI and analytics platform tools through the SaaS model to expand
their services and enter new markets. In addition, the difficult
economic times have required organizations to adopt SaaS as a
cost-cutting alternative.

According to the report, one major driver is the increasing volume of
information generated from enterprise applications. This data must be
accessible as part of or as an extension to the corporate information
framework and be made available for analysis and decision making. BI and
analytics platform tools are useful in the retrieval and analysis of
this growing amount of diverse data.

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